GTN
Gray Television, Inc. Communication Services - Broadcasting Investor Relations →
Gray Television, Inc. (GTN) closed at $4.53 as of 2026-03-20, trading 31.9% below its 200-week moving average of $6.65. This places GTN in the extreme value zone. The stock moved further from the line this week, up from -32.2% last week. The 14-week RSI sits at 40, indicating neutral momentum.
Trading volume is running at 1.4x of its 14-week average, which is in the normal range. The balance between buying and selling volume (1.22 ratio) is neutral — neither side is clearly dominating.
Over the past 1181 weeks of data, GTN has crossed below its 200-week moving average 14 times. On average, these episodes lasted 44 weeks. Historically, investors who bought GTN at the start of these episodes saw an average one-year return of +37.4%.
With a market cap of $527 million, GTN is a small-cap stock. The company generates a free cash flow yield of 53.0%, which is notably high. Return on equity stands at -3.0%. The stock trades at 0.2x book value.
Share count has increased 9.7% over three years, indicating dilution. This stock also meets the Yartseva multibagger criteria as a small-cap with strong free cash flow yield and reasonable book value.
Over the past 22.7 years, a hypothetical investment of $100 in GTN would have grown to $53, compared to $972 for the S&P 500. GTN has returned -2.7% annualized vs 10.6% for the index, underperforming the broader market over this period.
Free cash flow has been declining at a -22.8% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
Growth of $100: GTN vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After GTN Crosses Below the Line?
Across 14 historical episodes, buying GTN when it crossed below its 200-week moving average produced an average return of +40.5% after 12 months (median +10.0%), compared to +15.1% for the S&P 500 over the same periods. 50% of those episodes were profitable after one year. After 24 months, the average return was +80.6% vs +28.5% for the index.
Each line shows $100 invested at the moment GTN crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
GTN has crossed below its 200-week MA 14 times with an average 1-year return of +37.4% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Sep 2003 | Sep 2003 | 1 | 1.9% | +17.2% | -33.1% |
| Jul 2004 | Aug 2004 | 4 | 4.9% | +11.6% | -41.7% |
| May 2005 | Jul 2005 | 8 | 13.6% | -32.3% | -43.2% |
| Aug 2005 | Mar 2007 | 83 | 44.9% | -37.1% | -38.3% |
| May 2007 | May 2007 | 1 | 5.5% | -56.8% | -36.3% |
| Jun 2007 | Jan 2012 | 242 | 97.4% | -60.2% | -39.0% |
| Apr 2012 | Apr 2012 | 2 | 4.8% | +211.3% | +238.0% |
| May 2012 | Jul 2012 | 12 | 22.3% | +287.4% | +226.4% |
| Jul 2016 | Aug 2016 | 1 | 3.7% | +52.0% | -42.6% |
| Sep 2016 | Jan 2017 | 18 | 25.4% | +45.9% | -43.3% |
| Mar 2018 | Jun 2018 | 14 | 14.9% | +75.5% | -53.6% |
| Mar 2020 | Nov 2020 | 36 | 37.5% | +29.9% | -62.3% |
| Jun 2022 | Jul 2022 | 5 | 7.1% | -57.6% | -69.0% |
| Sep 2022 | Ongoing | 183+ | 74.8% | Ongoing | -65.7% |
| Average | 44 | — | +37.4% | — |
Frequently Asked Questions
Is GTN below its 200-week moving average?
Yes. As of 2026-03-20, Gray Television, Inc. (GTN) is trading 31.9% below its 200-week moving average of $6.65. The current price is $4.53.
What is GTN's 200-week moving average price?
Gray Television, Inc.'s 200-week moving average is $6.65 as of 2026-03-20. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when GTN drops below its 200-week moving average?
GTN has crossed below its 200-week moving average 14 times in our data. On average, buying at that moment produced a one-year return of +37.4%. These dips have historically been decent entry points. These episodes lasted 44 weeks on average.
Is GTN a good value right now?
Here's what our data says about GTN as of 2026-03-20: The stock is below its 200-week moving average, which is the starting point for our analysis. The 14-week RSI is 40. Free cash flow yield is 53.0%. Return on equity is -3.0%. Price-to-book is 0.2x. This is not a buy or sell recommendation — always do your own research.
How does GTN compare to the S&P 500?
Over the past 22.7 years, $100 invested in GTN would have grown to $53, compared to $972 for the S&P 500. That's -2.7% annualized vs 10.6% for the index. GTN has underperformed the broader market over this period.
Does GTN pay a dividend?
Yes. Gray Television, Inc. currently pays a dividend yield of 706.00%.
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of week of 2026-03-20